The decisions of the US and Soviet Union to build nuclear weapons is much like the prisoners' dilemma
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following correctly describes "frictional unemployment"?
A) Frictional unemployment falls in recessions and rises in expansions. B) Frictional unemployment occurs mainly during recessions. C) Frictional unemployment includes only people who are job losers. D) Frictional unemployment is a normal occurrence in a growing economy. E) Frictional unemployment includes only people who are job leavers.
Very Technical is a firm that sells computing equipment. It costs Very Technical $40 for each order of computer monitors and the variable cost of placing an order is $5 per monitor. If Very Technical sells 2,000 computer monitors a year and they order 50 monitors, what is the annual ordering cost of the monitors?
A) $122,500 B) $116,000 C) $95,500 D) $87,500
Refer to the above figure. A price support set at P3 will
A) lead to a surplus of Q3 minus Q1. B) lead to a shortage of Q3 minus Q1. C) lead to an equilibrium quantity of Q2. D) be ineffective.
It may be advisable for a firm to stay in business, even if it's losing money,
a. but only in the short run b. but only if its profit covers the loss c. but only in the long run d. because "things may change" e. when the owner has lots of money